What is Western Union?
Western Union is a US-listed money transfer company founded in 1851. It is the brand most Nigerians know from bank halls: for decades, collecting "Western Union money" at a First Bank or GTBank counter was the standard way to receive money from abroad.
Today you can send with Western Union in three ways: on its website, in its app, or in person at an agent location. That mix is its main strength. No app-only service lets you walk in with cash and get help from a person.
How your recipient gets the money
- Bank account deposit. Western Union pays into Nigerian bank accounts. Deposits normally arrive the same banking day.
- Cash pickup. Your recipient collects cash at an agent location, mostly inside partner bank branches. Western Union says it has thousands of locations across Nigeria. Cash is usually ready within minutes.
The naira rule. Since 1 May 2026, the Central Bank of Nigeria requires licensed money transfer operators, Western Union included, to pay out in naira. Naira cash pickup is also capped at about USD 200 equivalent per payout. Some older Western Union pages still describe dollar deposits at a few banks. Check the payout currency on the confirmation screen, and send larger amounts to a bank account.
How you pay
Ways to pay depend on where you send from. In the US, for example, you can pay with:
- a debit card (fast and usually the simplest)
- a bank account (often the cheapest option)
- a credit card (most card issuers treat this as a cash advance, with an extra fee and interest from day one)
- cash at an agent
US cash tax. Since 1 January 2026, US transfers paid for with cash, a money order or a cashier's check carry a 1% federal remittance tax. Paying from a bank account or by debit card avoids it.
What it really costs
Western Union makes money in two places: the transfer fee and the exchange rate margin. It often advertises low or zero fees, especially to new customers, but the rate it gives you is usually below the mid-market rate.
On 8 November 2026, Wise's public comparison feed showed Western Union paying:
- about 1.4% below the mid-market rate on US dollar transfers to Nigeria, with no fee
- about 1% to 4.5% below on euro, pound and Canadian dollar routes, with fees around 1.99 in the sending currency
The best apps for Nigeria typically sit closer to the mid-market rate. On a USD 500 bank transfer, that difference can easily be several thousand naira. The fee also changes with the amount, the payment method and the payout method, so always compare the final naira amount, not the fee. Our calculator does that for you.
Speed
- Cash pickup: usually within minutes once the transfer is paid for.
- Bank deposit: usually the same banking day.
- Delays: first transfers, large amounts and name mismatches can trigger compliance checks that hold a transfer for longer.
Collecting cash: what your recipient needs
- The 10-digit tracking number (MTCN) you received when you sent the money.
- A valid government photo ID, such as an international passport, driver's licence, national ID card or permanent voter's card.
- A name that matches. The name on the ID must match the name you entered exactly, so use the full name as it appears on the ID.
Who should use Western Union?
It suits you if:
- your recipient has no bank account and needs a small amount of cash
- you prefer to pay in person or need help from an agent
- you are sending from a country where the app-first services are not available
Look elsewhere if:
- you are sending to a bank account and want the most naira
- you are sending a large amount, where a mid-market provider like Wise usually costs less
Our verdict
Western Union is reliable and everywhere, which matters for cash and in-person sending. For everyday bank transfers it is rarely the cheapest. Check today's numbers on your route: USA, UK, Canada or Europe.